AFAP's change to their rules was merely to enable current AFAP members from the Regionals, RFDS and GA going into Qantas to retain their membership and consequently their MBF loss of licence coverage.
Retaining the MBF is a bit of a red herring. Qantas already provides loss of licence insurance to Qantas mainline pilots and you can’t claim on two policies (it’s called offsetting). So there is no need for a Qantas pilot to have the AFAP MBF.
(Disclaimer; the comments above should not be relied upon as professional financial advice, everyone’s circumstances are unique and you should speak to a licensed financial planner before making any investment or insurance decisions. As a general rule do not take financial advice from pilots and certainly not on anonymous internet bulletin boards)